Hey tradingview community, OTIS WORLDWIDE CORP is in a fake downtrend with a slowdown in negotiated purchase volume and a kind of shooting star. Zooming in on the TIMEFRAME M1 we can see a marubozu with a low return of past sales volume. It goes on its last low point, reversing the trend to start testing the different points of the bollinger (base, higher) at the same time the VWAP and come back to recheck the top of the range (rectangle).
There is a good chance of breaking the price with an acceleration on the momentum at the same time the zone to go to the next one and get the next high. On the MULTI TIMEFRAME in lower unit (H4, H1) we find this high point and test of the neckline to be expected before breakout of a range to check the top of the fibonacci retracement. Otherwise it can be the breakage of the oblique support or go to the horizontal support.
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There is a good chance of breaking the price with an acceleration on the momentum at the same time the zone to go to the next one and get the next high. On the MULTI TIMEFRAME in lower unit (H4, H1) we find this high point and test of the neckline to be expected before breakout of a range to check the top of the fibonacci retracement. Otherwise it can be the breakage of the oblique support or go to the horizontal support.
Please LIKE & FOLLOW, thank you!